International Conference
The internationalization of the euro and the creation of the Union of Capital Markets in the EU
16 June 2023 - from 10 hrs am
Organizers : Robert Triffin International (RTI), European League for Economic Cooperation (ELEC) with the support of the Camille Gutt Fund (Free University of Brussels)
Location : Amphithéâtre of BRED Bank - 18 Quai de la Rapée - 75012 Paris
Date : Friday 16 June 2023
Download Summing Up of the Conference
PROGRAMME (with speakers' presentations downloadable)
10h Opening session : Welcome remarks by the organizers : Olivier Klein, Chairman of French National Committee of ELEC, Javier Arias Marin , International President, ELEC, and Bernard Snoy, Chairman, RTI, former Executive Director of the World Bank
10h15 Session 1: The international role of the euro : Moderator : Philippe Jurgensen, former Chairman of the French Insurance Control Authority (ACAM), Chairman , ELEC, International Economioc and Social Commission.
- Evaluation of the international role of the euro : Boris Kisselevsky, Permanent representative in Brussels, European Central Bank
- The European Commission’s view on the desirability of internationalizing the euro : Annika Eriksgaard, Director, International Economic and Financial Relations and Global Governance, DG ECFIN European Commission
- Advantages and disadvantages of the internationalization of the euro : Gergely Hudecz, Principal Economist, European Stability Mechanism, and Franz Nauschnigg, Secretary General of ELEC-Austria, former Head of European Affairs and Relations with International Institutions, Austrian National
- Role of the euro in the launching or relaunching of processes of regional economic and monetary integration: Fabio Masini, Professor, University of Roma Tre and Centro Studi sul Federalismo, Secretary General of RTI.
11h30 Session 2 : Status report on the creation of the EU Capital Markets Union : Philippe Guillot, Deputy Secretary General of the French Financial Markets Authority (AMF). (tbc)
- Progress achieved since the launching of the Capital Markets Union in 2012 : regulatory and institutional progress: Tatyana Panova, Head of Unit, Horizontal Policies, Financial Stability, Financial Services and Capital Markets Union (FISMA), European
- Towards an European Common Safe Asset : the Next Generation EU Fund and the launching of the Commission’s Borrowing program. Philippe Jurgensen, former Chairman of the French Insurance Control Authority (ACAM), Chairman, ELEC International Economic and Social Commission
- A retrospective on the private sector's attitude towards EMU: from the single currency to a supranational safe asset: Christakis Georgiou, Research Fellow, Dusan Sidjanski Center for European Studies, University of Geneva
- Past and new ELEC proposals for Euro denominated safe assets and acceleration of the Capital Markets Union : Graham Bishop, ELEC and Member of the Board, Federal Trust, UK
14h00 Keynote address by François Villeroy de Galhau, Governor, Banque de France
14h15 Session 3 : The Internationalization of the Euro and the reform of the international monetary system in the present geopolitical context: Moderator: Sylvie Goulard, former Minister, former Deputy Governor of Banque de France, now at the Center for Analysis, Prevision and Strategy of the French Ministry of European and Foreign Affairs
- The need to catch up with rapid evolutions in technology, customers preferences and practical and economic constraints on all actors necessary to ensure the attractiveness of the euro: Marc Alaurent, former Vice President Innovation , BNP Paribas Personal Finance, Secretary of ELEC Economic and Social
- The link between the sharp break in global monetary policies and the changes in global liquidity and credit: Philip Turner, former Deputy Head of Economic and Monetary Studies, BIS
- Managing Global liquidity in a multi-currency International Monetary System : André Icard, former Deputy Managing Director of the
- Could the internationalization of the euro become a stepping stone towards a broader reform of the international monetary system, enhancing the role and the authority of the IMF, along the lines of the recommendations of the 2011 Palais Royal Initiative? Bernard Snoy, Chairman, RTI, Honorary Chairman International of ELEC
15h45 Session 4 : The impact of the energy transition on the international use of the euro : Edmond Alphandéry, Former French Minister of Economy and Finance, Chairman of Group of 50, Chairman of Task Force on Carbon Pricing.
- The euro versus the US dollar and SDR as unit of account, pricing and payment for the carbon market. Bernard Snoy, Chairman, RTI, Honorary Chairman International of ELEC
- Will the European Investment Bank become the biggest “climate bank”? What impact for the international role of the euro and for the creation of the EU Capital Markets Union? : Alexandrina Boyanova, Head of the EIB Climate Office (Operations)
- Providing Global public goods. Adjustment or reform of the International monetary system? Fabio Masini, Professor, University of Roma Tre and Centro Studi sul Federalismo, Secretary General of RTI
17h Concluding Session : Panel of the organizers commenting on the next steps at EU and global level
